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Saudi drops on big petchem lossSaudi shares closed lower on Saturday on petrochemical losses despite rising oil prices. Brent crude futures closed at $123.43 a barrel on Thursday before holidays began in major markets. The all-share closed 0.4 per cent lower at 7862.5 p More… |
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Gold edges up 1pc after 5pc plungeSpot gold rose more than 1 percent on Thursday, recovering from its biggest fall in more than three years in the previous session. Prices moved up rapidly after the Shanghai Gold Exchange started trading, as investors took advantage of a d More… |
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Mena IPO value plunges 51.6pc in Q2The value of initial public offerings (IPOs) in the Middle East plunged 51.67 per cent to $374.77 million in the second quarter this year from $775.40 million during the same period in 2010, according to a report by Ernst & More… |
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UAE house prices set to plunge in 2010House prices in Dubai and Abu Dhabi are set to fall a further 10 per cent and 13 per cent in 2010 respectively, as residential supply expands in both markets, a Reuters poll showed on Thursday. Dubai's once-booming property market has More… |
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Dubai stocks plunge to 14-month lowDubai's index slumped to a 14-month closing low as worries over the financial health of Dubai Holding and Friday's global equity sell-off pushed investors to the exit. 'There are jitters about Dubai Holding rolling over some of More… |
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US at loss on market plunge, wants new rulesRegulators still have not been able to pinpoint the cause of the market's recent plunge, but charged ahead with new rules to restrict trading when markets are in free-fall. Nearly two weeks after the Dow Jones industrial average dropped so More… |
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Banque Saudi Fransi Q4 net plunges 43pcBanque Saudi Fransi said on Sunday its fourth-quarter net profit fell by a worse-than-expected 43.3 per cent after it booked provisions to support its finances. The affiliate of French Credit Agricole made SR324 million ($86.4 million) in More… |
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Kingdom Holding Q2 profit plunges 83pcKingdom Holding Company, chaired by Saudi Prince Alwaleed bin Talal, on Tuesday posted an 82.8-per cent drop in the net profit for the three months to June 30. The company's net profit plunged to SR92.1 million ($24.6 million) fro More… |
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Abu Dhabi retail gold sales plunge 70pcHigh prices and the economic downturn have battered Abu Dhabi's gold market, cutting retail sales by over 70 per cent on the year in February, the Gulf emirate's gold and jewellery group chairman said on Sunday. Investors have used gold as More… |
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Abu Dhabi Islamic Bank Q4 net plunges 60pcAbu Dhabi Islamic Bank said its fourth-quarter net profit fell 60 per cent to Dh114.7 million after it booked provisions worth Dh152.5 million, missing analysts' forecasts. The bank's full-year net profit rose 10.7 percent to Dh851 More… |
